Why is the Cayman Islands popular for "stashing money"? (lemmy.zip)

submitted 1 week ago* (last edited 1 week ago) by CmdrGraves@lemmy.zip to c/asklemmy@lemmy.ml

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Commonly heard in the crime genre that involves money laundering, as most would hide their stash over there either in actual cash or digital monetary transfers. It's only an island nation within the Caribbean, the thing is: why is it treated like a Swiss Bank of some sort? As in, either elites or those on the run would hide their funds in Cayman Islands.

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[-] DrBob@lemmy.ca 26 points 1 week ago

Because the laws of the Caymans allow corporations to keep owners and directors secret. So once money hits the Caymans it becomes nearly impossible to trace.

This film sort of explains it. https://en.wikipedia.org/wiki/The_Laundromat_(2019_film)

this post was submitted on 18 Apr 2026

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